First and foremost, a big “thank you” to all the Vancouver folks that turned out for our class this past weekend. I appreciate the way you welcomed the team, made us feel so much at home and asked such incredibly informed questions. It was truly a great event and thank you for making it so!
Picked up a copy of the Province and noticed an interesting article that adds a big exclamation mark at the end of the strategy we shared in Vancouver this weekend. Our formula for success with the ultimate goal of capturing the multi family market is working extremely well for our students. We know the process is based in solid factual information and the Province underlined that again today.
“Seamus Foran, a senior vice-president with Brookfield Asset Management, said the U.S. real-estate market has $180 billion US of known distressed assets, and that “the shining star for U.S. real estate today has been the multi-family market.” He noted that in most U.S. apartment buildings, the turnover ratio of tenants on a year to year basis is at least 50 per cent, considerably higher than in Canada. “And the multi-family market really benefits from short-term leases, because it gives the owners opportunities to bring rents up, each time those leases fold,” Foran said.”
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